When you first open your home business in Lincoln, NE, your home insurance probably covers your new home business’ equipment. You probably do not own much yet.

The standard home policy covers about $1,500 to $2,500 of business equipment or property at your home. That’s all it covers, though.

As your business grows, you need to enhance your coverage from Richards Insurance Agency. The liability coverage of a home owner’s policy provides coverage for occasional meetings for a home business. Still, to cover regular meetings or client visits, you need to add a policy endorsement.

You need to add to the policy if you plan to have regular meetings or order pickups from your home. That endorsement increases your liability coverage so you can safely hold meetings without worrying that an accident would put you out of business. This endorsement also adds up to $4,999 of business property coverage and up to $750 for personal business property.

When your business grows beyond that, you need a home business policy for your home owner’s insurance. This represents more than an endorsement; it adds a type of coverage to your existing policy, like adding collision coverage to your auto insurance policy.

Adding a home-based business coverage component to your home insurance protects your business fully. It also protects your insurance policy. If you begin using your home to run a business and do not tell your insurer, you can lose your insurance policy altogether. Anything besides intended use invalidates your policy. If you started any business from home, including selling Avon, Mary Kay, etc., you need to inform your insurance company.

Contact Richards Insurance Agency, serving Lincoln, NE, for more information on home insurance and your home-based business. We want to help you remain covered.